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Services sector continues to propel economic activity

17:10 Tue Dec 05, 2017


Taken from/By:
Report by: Ritika Pratap

The local economic activity continues to be propelled by the services sector in particular the tourism industry on account of higher visitor arrivals.

Reserve Bank Governor, Ariff Ali says this is supported by expansionary fiscal, monetary policies and improved labour market conditions.

Over the month positive outruns were also noted in the cane and sugar sectors, as well as electricity and fish productions.

Contrastingly, output in the cement, gold and timber industries grew slowly.

Inflation edged up to 2.6 percent in October from two percent in the previous month.

The year-end forecasts an inflation of 2.5 percent.



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